Don't cancel your holiday, buy cheaper travel insurance instead

Almost half of UK consumers will forgo a holiday in the next 12 months due to the recession, according to new research, but a better way to save cash would be to buy cheaper travel insurance.

Policies sold on the high street can cost well over £100 for a family of four, but shop online at sites like insurewithease.com and the savings are huge.

Management consultancy Accenture found that 45% of people quizzed were not planning to take a holiday within the next year, and those that were said they would be staying closer to home or looking for cheaper hotels to save money.

More than a third of respondents said price was the key factor to choosing a holiday these days, though a quarter said value for money was just as important.

The majority of holidaymakers shop around for cheap air fares, though many don't realise they can also make big savings shopping around for travel insurance.

Those who are booking flights direct with airlines should also be prepared to pay a little extra for scheduled airline failure insurance to make sure they don't end up out of pocket if the carrier goes belly up before or during their trip.

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